The Cape Town Central City Improvement District (CCID) has announced the appointment of Tasso Evangelinos as the organisation’s Chief Executive Officer.
Rob Kane, chair of the CCID, says the change of Evangelino’s role from COO to CEO is in line with the direction the CCID has taken over the past 18 months, explains Kane.
“These past 18 months have been a period of re-alignment for the CCID coming out of our previous 14-year management agreement with the Cape Town Partnership and becoming an independent, stand-alone organisation in our own right in May 2015.”
This was also when the CCID moved to its own premises in 1 Thibault Square.
Says Kane says, “The process of becoming an independent organisation has been a highly successful one, and for this we are grateful for the continued support and guidance we’ve receive during the transition from our primary partners at the City of Cape Town, as well as SAPS.”
“The final step in this period of readjustment is for the title of our Chief Operating Officer to fall in line with those of other similar organisations as a Chief Executive Officer.”
Kane notes that this appointment, “Reflects the enormous role that Tasso has played since 2007 as our Chief Operating Officer, and the contribution he has made ever since he joined the CCID in 2000.”
Evangelinos originally joined the CCID in its founding year as a precinct manager and became the Chief Operating Officer of the CCID in April 2007.
“I’ve seen a huge transformation in the Central City over that time. This area is the traditional ‘downtown’ of the oldest city in South Africa, and it has spent 16 years moving from what was once a CBD heading for serious degradation, as so many downtowns across the globe have done, to one that within the next three years will see an overall property valuation, conservatively speaking, of well over R34bn,” he says.
In terms of the area managed by the CCID, this estimation is made up of the last official property valuation (in 2014) of close to R24bn, to which can be added over R2,6bn of properties completed over the past two years, the over R4,6bn currently under construction, and the more than R3bn currently in the planning or proposed stages.
“Then we also have the exciting developments taking place just on our boundaries, respectively in the V&A Waterfront to the northwest of the Central City and the Culemborg area to the east,” says Evangelinos.
“The Central City is becoming part of an area in which investors are showing confidence in all directions, and as the CCID were enormously proud to be part of that.”
The Culemborg investment reflects the R8bn Harbour Arch project announced recently by the Amdec Group.